Trends - Brent crude - Business Recorder

Markets

Oil rises on expectations Iranian supply won’t return soon

NEW YORK: Oil prices settled on Tuesday at the highest in more than two years after the top US diplomat said that...

Published 09 Jun, 2021 03:29am

Markets

Oil drops again on doubts over demand rebound

Restraint on supply by the Organization of the Petroleum Exporting Countries and allies has also helped buttress prices.

Published 08 Jun, 2021 12:18pm

Markets

Most Gulf markets track oil prices higher; Egypt falls

Almarai rises after acquisition deal.
Qatar up for third straight session.
Saudi Arabia's benchmark stock index rose 0.6%, helped mostly by the financials and material sectors.

Published 02 Jun, 2021 08:23pm

Markets

Oil settles up after hitting 15-month highs on demand prospects

• OPEC, allies agree to continue planned crude output increases NEW YORK: Oil prices settled higher on Tuesday,...

Published 02 Jun, 2021 04:29am

Markets

OPEC+ seen sticking with supply plan with Iran's oil yet to return

OPEC+ panel meeting starts, full session set for 1230 GMT.
Iran nuclear talks and supply return in focus.
OPEC's Barkindo says Iran supply return to be orderly.

Published 01 Jun, 2021 07:20pm

Markets

Asian shares gain, dollar soft as Fed calms inflation fears

Global benchmark Brent crude was up 5 cents at $68.70 and US crude fell 3 cents to $66.04 per barrel.

Updated 26 May, 2021 11:11am

Markets

Oil prices up over $1 amid potential Iran talks hitch

Iran says IAEA access to nuclear sites images has ended.
Brent prices to reach $80/bbl in 4Q 2021 - Goldman Sachs.

Published 24 May, 2021 02:21pm

Markets

Oil prices rise as storm forms in Gulf, doubts emerge on Iran deal

NHC says 60% chance of cyclone over western Gulf of Mexico.
Iran says IAEA access to nuclear sites images has ended.

Published 24 May, 2021 09:06am

Markets

Oil edges up but set for weekly fall on Iran crude talks

Sultan Ahmed Al Jaber, chief executive of the Abu Dhabi National Oil Co, said on Thursday that oil demand has risen to 95 million bpd.

Published 21 May, 2021 12:02pm

Markets

Oil climbs on economic recovery hopes despite fresh Asian restrictions

• US gasoline prices climb even as Colonial reopens after hack NEW YORK: Oil prices rose more than 1% on Monday,...

Published 18 May, 2021 05:05am

Markets

Oil prices set for weekly gain despite India virus surge

NEW YORK: Oil prices were little changed on Friday as the COVID-19 crisis in India worsened but prices were set for ...

Published 08 May, 2021 03:30am

Markets

World oil rises

NEW YORK: Oil prices rose on Tuesday after more US states eased lockdowns and the European Union sought to attract...

Published 05 May, 2021 04:01am

Markets

Bacon and copper lead commodity price surge

Copper in the past week hit a 10-year high, while pork prices have fattened in part due to higher demand for bacon from Americans working and eating breakfast at home.

Published 02 May, 2021 11:25am

Markets

Major Gulf indexes down

DUBAI: Major stock markets in the Gulf ended lower on Wednesday, as oil prices were weighed down by concerns that...

Published 22 Apr, 2021 03:55am

Business & Finance

Oil prices drop as India's COVID-19 surge dents demand outlook

India reports country's record single-day tally in deaths.
US crude stocks rise in the week ended April 16.
EIA data due later in the day.

Published 21 Apr, 2021 04:25pm

Markets

Oil steady near one-month highs as IEA, OPEC raise forecasts

"We see robust stock draws even after factoring in bearish risks as refinery runs are set to rise sharply in the coming months," Citi Research analysts said in a note.

Published 15 Apr, 2021 11:26am

Markets

Oil maintains upward momentum despite fresh coronavirus fears

Prices climb for third session but remain rangebound.
Oil higher on US inventory drop and improved demand outlook.
Weaker US dollar also supportive.
Spike in COVID-19 cases stokes concerns.

Updated 14 Apr, 2021 06:18pm

Markets

Oil rises but remains rangebound as COVID-19 cases soar

However, the crude prices have remained rangebound in the past three weeks, with Brent between $60 and $65 a barrel and WTI at $57 to $62.
"Oil prices are entering a consolidation phase after swinging wildly last month," said oil broker PVM's Stephen Brennock.

Published 12 Apr, 2021 05:59pm

Markets

Oil prices firm on stronger economic outlook

Crude stockpiles down and fuel inventories up, says API.
World powers and Iran hold talks on nuclear deal.
Coming up: EIA inventory data at 1430 GMT.

Published 07 Apr, 2021 05:53pm

Markets

Oil up as OPEC+ meets to decide on production policy

OPEC+ deliberates about rollover or hike, sources say.
OPEC+ meeting is scheduled to start at 1300 GMT.
Euro zone factory activity soared in March.

Published 01 Apr, 2021 05:17pm

Markets

Oil prices gain on expectations OPEC+ will keep lid on output

Under existing curbs, OPEC, led by Saudi Arabia, and non-OPEC producers, led by Russia, have cut just over 7 million barrels per day (bpd), while Saudi Arabia has made an additional voluntary reduction of 1 million bpd.

Published 31 Mar, 2021 12:01pm

Markets

Oil prices fall as Suez Canal opens

NEW YORK: Oil prices slid on Tuesday as the Suez Canal reopened to traffic and the dollar rallied. Focus in the...

Published 31 Mar, 2021 05:42am

Markets

Oil and shares slide as sanctions, virus fears strike

US, Europe sanctions against China hit shares.
Oil slides 4% amid demand fears.

Published 23 Mar, 2021 08:00pm

Markets

Oil prices climb

NEW YORK: Oil prices edged higher on Monday after a broad sell-off last week, as market players were hopeful demand...

Published 23 Mar, 2021 04:37am

Markets

Oil extend losses amid gloomy demand outlook

In other parts of the world, Brazil registered its second deadliest day in its COVID-19 pandemic, with 2,724 deaths, while India on Friday reported its highest daily increase of new COVID-19 cases in more than three months.

Published 19 Mar, 2021 11:15am

Markets

Oil climbs as surprise drop in US crude stocks outweighs European vaccine woes

The market has drifted lower over the past few days as more European countries pause inoculations of AstraZeneca's COVID-19 vaccines due to concerns over possible serious side effects, which could slow a recovery in fuel demand.

Published 17 Mar, 2021 01:15pm

Markets

Brent crude eases, but stays near $70 as demand optimism lends support

Oil prices sustained at higher levels are expected to draw US producers to increase output, JP Morgan analysts said in their weekly note.

Published 12 Mar, 2021 11:46am

Markets

Oil prices rise on economic outlook, drawdown in fuel stocks

Globally, stocks also remain ample with crude oil in storage at major land and sea hubs rising last week, according to analysts and ship trackers.

Published 11 Mar, 2021 11:57am

Markets

Oil prices edge up ahead of US inventories data

"The current WTI oil price is well above the level needed to incentivise a substantial increase in US production, which according to surveys by the Dallas Fed and the Kansas City Fed stands at around $56 per barrel," EFG said.

Published 10 Mar, 2021 11:06am

Markets

Brent crude oil price surges above $70 a barrel

A barrel of the black gold jumped 2.11 percent to $70.82 a barrel, the highest since January 2020.

Published 08 Mar, 2021 05:29pm